As of today, November 7, the open positions of non-member futures companies will be limited to within 1,000 lots per day on the I2401, I2402, I2403, I2404 and I2405 contracts, as announced by Dalian Commodity Exchange (DCE), while on other contracts the open positions will not exceed 2,000 lots.
Lately, import iron ore prices have indicated significant rises, for instance from RMB 835/mt ($116.3/mt) on October 23 to RMB 923.5/mt ($128.7/mt) on November 7. Compared to yesterday, iron ore futures for January lost 0.48 percent today. DCE’s measures aim to cool down the speculation in iron ore futures. At the same time, investors are also reminded to pay attention to the potential risks of rapid rises in iron ore futures prices.
$1 = RMB 7.1776